Finance Chair Dave Vang in the Minneapolis/St. Paul Business Journal
Friday, September 3, 2010
Dave Vang, professor and chair of the Finance Department at the University of St. Thomas Opus College of Business says that the high-to-low practice used by many banks to charge overdraft fees is “counterintuitive” to an average bank customer.
“Reordering the transactions from biggest to smallest may very well be legal if it’s written into their policies, but it’s less than fully honest to the customer, who expects them to be chronological,” Vang said.
Originally published: 09/03/2010, Minneapolis/St. Paul Business Journal